MillerKnoll Inc (MLKN)
Current ratio
| Aug 31, 2024 | Mar 2, 2024 | Dec 2, 2023 | Sep 2, 2023 | Jun 3, 2023 | Mar 4, 2023 | Dec 3, 2022 | Sep 3, 2022 | May 28, 2022 | Feb 26, 2022 | Nov 27, 2021 | Aug 28, 2021 | May 29, 2021 | Feb 27, 2021 | Nov 28, 2020 | Aug 29, 2020 | May 30, 2020 | Feb 29, 2020 | Nov 30, 2019 | Aug 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total current assets | US$ in thousands | 1,071,800 | 1,083,400 | 1,114,300 | 1,097,700 | 1,176,200 | 1,276,100 | 1,309,900 | 1,331,200 | 1,317,900 | 1,271,100 | 1,214,600 | 1,135,700 | 906,500 | 868,500 | 837,900 | 757,500 | 917,100 | 636,300 | 666,800 | 653,600 |
| Total current liabilities | US$ in thousands | 675,700 | 680,500 | 713,800 | 704,500 | 702,800 | 733,200 | 773,200 | 773,000 | 877,400 | 833,600 | 857,300 | 806,800 | 476,500 | 499,900 | 507,500 | 477,500 | 470,200 | 506,100 | 481,400 | 484,900 |
| Current ratio | 1.59 | 1.59 | 1.56 | 1.56 | 1.67 | 1.74 | 1.69 | 1.72 | 1.50 | 1.52 | 1.42 | 1.41 | 1.90 | 1.74 | 1.65 | 1.59 | 1.95 | 1.26 | 1.39 | 1.35 |
August 31, 2024 calculation
Current ratio = Total current assets ÷ Total current liabilities
= $1,071,800K ÷ $675,700K
= 1.59
The current ratio of MillerKnoll Inc has displayed some fluctuations over the past few years, ranging from 1.26 to 1.95. The current ratio measures the company's ability to cover short-term liabilities with its current assets. A higher current ratio indicates better short-term financial strength and liquidity.
Looking at the trend, we observe that the current ratio peaked at 1.95 on Aug 29, 2020, suggesting strong short-term liquidity at that time. Subsequently, the ratio experienced some fluctuations but generally remained above 1.5, indicating that the company generally had sufficient current assets to cover its short-term obligations.
It is worth noting that the current ratio dipped to 1.26 on May 28, 2022, which may indicate a potential strain on short-term liquidity. However, the ratio recovered in the following periods, demonstrating a capacity to manage its short-term obligations.
Overall, while there have been fluctuations, the current ratio of MillerKnoll Inc has generally remained at acceptable levels, reflecting a reasonable ability to meet its short-term obligations with current assets.